Ambitious technology companies in the South West of England have an opportunity to join the region's only dedicated tech accelerator programme, Growth Forge, which is now accepting applications for its 2025 edition. Growth Forge is designed to support firms in enhancing their growth trajectories and has played a significant role in securing over £2 million in funding for participants throughout 2024.
The accelerator programme this year introduces three specialised growth tracks focusing on artificial intelligence (AI), marine technology, and clean technology, in addition to a general core programme that is open to all technology sectors. This strategic targeting is intended to address the diverse and evolving needs of tech firms in the region.
"Growth Forge gives them targeted specialist support and investment opportunities, accelerating and enhancing their growth journey," said Dan Pritchard, director of Tech South West, speaking to The Business Magazine. He highlighted the burgeoning tech sector in the South West, emphasising the importance of personalised support through a detailed data modelling process tailored to each company’s unique growth priorities.
Tech companies at various stages of development are encouraged to apply, with an emphasis on the profile mechanism that ensures the provision of tailored expertise and opportunities. This could range from startups aiming for market entry to established companies looking to enhance their sales performance.
The programme offers comprehensive support facilitated by a number of key partners, including Microsoft, Bishop Fleming, Future Space, Program, Evo Talent, British Business Bank, and Plymouth & South Devon Freeport. This involvement allows for specialist workshops and specific guidance for firms operating in sectors such as AI and marine technology.
Growth Forge employs a proprietary business assessment tool, the PragmaPulse® Diagnostic, to evaluate each company's strengths and weaknesses comprehensively. The data gleaned from this tool informs the programme's support structure, which includes face-to-face Growth Days, bespoke mentoring, investor engagement, partner-led workshops, pitch training, online peer networking, and access to digital learning materials.
In 2024, firms that participated in the programme, such as Digital Wonderlab based in Wiltshire, Neural Edge from Somerset, and Bristol's Electric Aviation Group, achieved a total of £1.6 million in investments and £300,000 in grants. Notably, they also reported an average performance improvement of 27% across several key metrics, including talent strategy, marketing efficiencies, financial robustness, legal safeguards, and technology integration.
Applications for the Growth Forge 2025 programme are currently open to tech companies throughout the South West, encompassing regions such as Cornwall, Devon, Dorset, Somerset, Bristol, Bath, Gloucestershire, and Wiltshire. The programme is set to commence in the first week of March, with onboarding activities scheduled throughout February.
Source: Noah Wire Services